Updated the: 06/11/2012
USD/CAD Technical Analysis comments :
Sentiment : 1.0350 1.03
The pair USD/CAD made a pullback on the lower band of its bearish channel last friday and has opened the week on a strong bullish gap (which is not filled in). The pair just broke the support at 1.0230, giving us a sell signal. All indicators are bearish. We now advise to trade only short positions as far as 1.03 is resistance. The breakout of 1.0150 will give a new sell signal and will open the way towards 1.01. In case of return above 1.03, we will wait the breakout of 1.0350 to advise long positions.
Chart of the pair USD/CAD - Timeframe 4H - Zoom in :
Chart of the pair USD/CAD - Timeframe 4H - Zoom out:
USD/CAD Live Chart - Timeframe : 4h